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DELTA, BC, Sept. 8 /CNW/ - AirTest Technologies (TSXV: AAT) is pleased to
announce that it has signed a memorandum of understanding with a US based
research and development company that will allow the company to obtain
excusive proprietary rights and other intellectual property to market and
manufacture certain innovative, infrared based gas sensing technologies
developed by the company. This agreement includes worldwide patent rights to
the technology ultimately leading to acquisition of the research and
development group by AirTest.
The infrared measurement of gases is a well-established technology that
has been in widespread use for over 60 years in industrial, medical,
scientific and commercial applications. In fact many of the sensor
technologies currently offered by AirTest are based on infrared detection
principals. The breakthrough innovation developed by this company relates to
the ability to achieve unprecedented enhanced performance of infrared gas
sensor technology in terms of stability, cost to manufacture and low-level
sensitivity. According to George Graham, President of AirTest, "This
innovation can be applied to a myriad of existing markets in industrial and
commercial gas detection. It also opens the door for penetration of new large
markets related to appliance control, building control, environmental
monitoring as well as life/fire safety applications in residential, commercial
and industrial applications." Graham added "we are withholding the name of
this company for public release until we have finalized a definitive agreement
which should occur in the next few weeks."
According to Mike Schell, AirTest's VP of business development "AirTest's
goal in acquiring this technology is to quickly implement the
commercialization of this breakthrough technology to all applicable
commercial, industrial and residential market applications."
About AirTest: AirTest Technologies (www.airtest.com) is a Green-Tech
company specializing in sensors that improve commercial building operating
efficiency and at the same time create energy savings. These sensors are all
based on technical innovations developed in the last ten years, and comprise a
growing second wave of energy saving technologies that will make a significant
contribution to the Sustainable Buildings Program. AirTest offers its products
to leading-edge building owners, contractors and energy service companies
targeting the buildings market. AirTest also provides energy cost reduction
solutions to building equipment and controls manufacturers who incorporate
AirTest sensor components in their products.
Statements about the Company's future expectations and all other
statements in this press release other than historical facts are "forward
looking statements". The Company intends that such forward-looking statements
be subject to the safe harbours created thereby. Since these statements
involve risks and uncertainties and are subject to change at any time, the
Company's actual results may differ materially from the expected results.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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